State Street

The strategies will invest in corporate bonds and large companies that issue high dividends, or have a growth or value tilt, documents show.

Like many trusts, the fund was designed to expire in 25 years, however tying it to the lives of a group of children born in the early 90s extended its own life.

The custodial bank says it has reimbursed the affected clients with interest.

Markets have been whipsawed by mounting concern over softer economic data and President Trump’s trade wars with major partners.

The SEC has just approved an ETF with negative fees — a sign that fund managers need to continue adjusting to their straitened circumstances.

The firm hopes the changes reflect its image as a “powerful, innovative and unified provider” of investment products, according to co-CEO Nico Marais.

CEO Ronald O’Hanley says the poor performance reflects both the industry’s “continued challenging conditions,” as well as “lower client activity.”

The products have benefited from the past decade of “economic expansion and bull market for risk assets,” one expert says.

The last time SPY saw inflows of this magnitude U.S. stocks were on the cusp of a bear market in late 2018.

The firm unveiled a discount in a footnote on page 94 of a revised regulatory filing.